Aquion Energ, Inc., a high-tech battery manufacturer, emerged from Chapter 11 bankruptcy and will reopen this week.
"We are refocused on technology and go-to-market opportunities that will grow significant volume for the company in the coming years," Aquin CEO Philip Juline said in a statement.
The new investors are a majority-American joint venture according to the release.
The company, which had received funding from the likes of Bill Gates and Kleiner Perkins, declared bankruptcy five months ago in March. Aquion also laid off 80 percent of its staff then.
"We are confident with our committed business orders and aiming to build Aquion into a billion-dollar company in the upcoming years. We are only limited by our ability to ramp and scale our operations," Juline said.
Pittsburgh Business Times | http://www.bizjournals.com